Hi,
I see on daily trend up will be confirmed after daily candle close above 123.77 other wise we still on the daily chart at bearish zone
Everything is about economy...I expect Japan wil recovery economy soon but that cant do alone,i think Other countries will help that....
Asian Stocks Climb on Growth Optimism
Friday, 12 Feb 2010
Asian stocks rose, lifting the MSCI Asia Pacific Index to its first weekly gain in four weeks, as optimism on the global economy overcame concern about Greek finances. Japan's Nikkei 225 Stock Average advanced 1%, while Hong Kong's Hang Seng Index rose 0.4%. Japan's markets were closed for a holiday yesterday, when the MSCI Asia Pacific, excluding the Japan Index, climbed the most since Feb. 3.
Feb. 15 (Bloomberg) -- Japan’s economic growth probably accelerated last quarter as a global trade revival fueled demand for exports, economists said before a report today.
Gross domestic product rose an annualized 3.5 percent in the three months ended Dec. 31, the fastest pace since the first quarter of 2008, according to the median estimate of 25 economists surveyed by Bloomberg News. The Cabinet Office is scheduled to release the report at 8:50 a.m. in Tokyo.
Nissan Motor Co. and Canon Inc. are among companies benefiting from resurgent global demand as countries poured more than $2 trillion into their economies to spur growth. The export rebound may be too weak to shore up spending at home, where wages are tumbling and consumer outlays have been propped up by government incentives that are starting to wear off.
“Exports have grown on the back of the ongoing recovery in the global economy, including Asia as a driving force,” said Saori Tsuiki, an economist at Mitsubishi Research Institute in Tokyo. Yet growth in consumer spending “may have slowed and the stimulus effect will probably run its course.”
Gains in the Nikkei 225 Stock Average stalled this year after a 19 percent advance in 2009, reflecting concerns about the resilience of the global recovery. The yen, which hit a 14- year high against the dollar in November, has gained 6 percent in the past six months, threatening exporters’ profits.
Asia spearheaded Japan’s revival at the end of 2009, led by China, which last year overtook the U.S. as Japan’s largest foreign customer. U.S. demand is also improving after the nation’s GDP expanded the most in six years last quarter. Still, a report last week showed Europe’s economy almost stalled in the period, underscoring the frailty of the world recovery.
Cheers
"Buy on fear, sell on greed !!!
